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Teleology holdings limited has revealed its proposed plan to revitalise the debt ridden 9mobile, after it finalised its takeover of the company by transferring a non-refundable completion deposit of $50 million to the Trustee for the bank syndicate which held ownership of 9mobile.
The company which is still expected to pay the balance of its $500 million bid for 9mobile in the next 90 days, in order to take full possession of the telecoms firm is certain of ownership having signed Share Purchase Agreement (SPA) and other contractual documents pertaining to the acquisition.
Teleology has therefore detailed an ambitious plan of action that will guide its rapid overhaul not only of the network but all aspects of the operations.
Adrian Wood, Teleology’s Director and pioneer managing director of MTN Nigeria, says, “9mobile is transiting into a new phase that will be defined by optimal value delivery: value to our employees, value to our customers, value to local communities and indeed to all stakeholders.”
He added that the new organisation to emerge would be “engineering led and brand driven.”
In delivering service, “we will strive to ensure that 9Mobile operations deliver fulfilment to our customers, empowerment to local communities, protection to the vulnerable and excellent rewards not only to our shareholders but to all stakeholders.”
In its 10-point plan of action, that aggregates its mission and how it intends to run 9mobile, Teleology confirms its partnership with Safaricom, the largest network operator in East Africa and popularly known for the huge success of the Mpesa mobile money financial service system in Kenya.
Teleology intends to double the 9Mobile network with new 3G/4G specific cell sites as well as several thousands of kilometers of fiber optic cable across the country and also drive a special program of rural internet coverage, focusing on 4G with broadband access planned for all of Nigeria’s 774 Local Government Areas.
Youth engagement and employment programs are also planned with all build contractors, distributors and consultants, Wood said, while investment in broadband internet access technologies which are completely new to Nigeria, are also planned.
Very importantly, he added that the 9Mobile network will be optimised for high speed and high capacity data including imaging, video, games, music, IPTV and more.
“Any 3-point plan or 3-dimension idea is naïve and completely missing the scope and complexity of the urgent Nigerian need to be brought into the 21st century broadband era,” Wood said.
Teleology projects a 50 percent increase in direct employment in the new 9Mobile. There is also an active plan to introduce within the first year, several million 4G-capable premium quality smartphones, at affordable pricing.
“Nigerians should look forward to a new regime of intensely exciting and innovative brand loyalty reward programs, from the new 9Mobile,” he said.
Coming at a period when competition in the Nigerian telecom industry has for some years been limited to price wars between the various GSM companies, clearly, Teleology’s coming will very likely herald a new era of intense competition and quest for market share among Nigeria’s telecom operators.
It is expected that the Nigerian Communications Commission (NCC) will approve a license transfer to Teleology for the acquisition of 9mobile in the next few weeks.
Reports suggest that Teleology is made up of 12 international and eight Nigerian shareholders, five of which are ex-MTN senior staff. Others include past executives from Orange, Vodafone and Celtel.
“The shareholders will be unveiled once the transaction is closed, and with the makeup of our shareholders, our intention is to make 9mobile a Nigeria-centric operation,” Wood said.
The company which will be inheriting 9mobile’s $1.2 billion debt named Afrexim Bank as its financial support for the bidding process as well as UBS AG a Swiss global financial services company, which is raising equity from both Nigerian and international banks.
Adrian Wood assured that additional details, including plans for a formal re-launch will be communicated in due course.
Jumoke Akiyode-Lawanson
